SkyPower Wind Energy Fund LP Gains Financing

Toronto, Canada [] SkyPower Wind Energy Fund LP announced that Terrawinds Resources Corp. has closed the initial stage of the project debt financing for its 201-megawatt (MW) wind energy project near Riviere-du-Loup, Quebec. The financing consists of a $26 million senior secured Turbine Supply Loan to fund the balance of the progress payments due in 2006. Terrawinds Resources Corp. has also entered into a non-binding term sheet for an underwritten senior secured construction and term debt facility of up to approximately $300 million to fund the balance of the construction costs of the CRCE and Infill Phases of the 201-MW project and to repay the Turbine Supply Loan.
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